Dollar volatility a big mistake - FXStreet

FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted the conditions around the European and US FX space today.

Key Quotes:

“The EUR/USD started the day in the losing side, down to a fresh year low of 1.3332, with the usual suspects behind it weak European data, US improved one with a shrinking deficit, and stocks in red on risk aversion”.

“US opening however, saw local share markets shrugging off fears and erasing early losses, now closing a handful points up”.

“But the dollar sunk big out of the bloom mid American afternoon, movement that started with USD/JPY dipping to 101.78, in what seems to have been a really fat finger: market rumors talk about 27,000 contracts being place instead of 27”.

“Despite unconfirmed, dollar maintained its weak footing particularly against the EUR that enters Asian session trading at its daily high”.